Country Report

Iran upstream summary

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Iran is an energy giant. The country has the world's fourth-largest gas reserves behind Russia, the United States, and Qatar; and the fifth-largest oil reserves. It is the third-largest gas producer and the seventh-largest oil producer globally. In 2024, gas and liquids output has reached approximately 10.4 million boe/d. Production is almost evenly split between liquids and gas.Despite being an energy giant, Iran faces an acute supply-demand imbalance. Seasonal energy demand ...

Table of contents

    • Oil production
    • Gas production
    • Condensate and NGL production
    • Foreign investment and technology
  • Key facts
  • Location maps
    • Main subsidiaries
    • Internationally-based subsidiaries of NIOC
    • Selected local E&P companies for IPC projects
      • NIOC-affiliated companies
      • State-affiliated companies
      • IRGC-affiliated companies
      • Private companies
      • Due diligence
      • Operating capability
      • Financing capability
    • Foreign companies
    • Introduction
    • Regional tectonic framework
    • Zagros and Arabian basins
      • The Arabian Platform
      • Reservoirs
      • Structural development
      • Other basins
    • South Caspian basin
    • Major petroleum plays
      • Dalan formation
      • Kangan formation
      • Khami group (Surmeh (Arab), Fahliyan (Yamama) and Dariyan (Shuaiba) reservoirs
      • Bangestan group (Kazhdomi (Nahr Umr), Sarvak (Mishrif) and Ilam formations
      • Asmari limestone
    • Source rocks and petroleum type
    • Licensing
      • 1901-1979
      • Islamic Revolution
      • 1995 - The return of foreign oil companies
      • 1998 - First buy-back round
      • 2003 Offshore licensing round
      • 2004 Exploration licensing round
      • 2007 Exploration licensing round
      • IPC tenders
    • Drilling
      • Drilling activity
      • Onshore and the Persian Gulf
      • 1900-1979
      • 1979-2002
      • 2003-present
      • Caspian Sea activity
    • Oil reserves and resources
    • Gas reserves and resources
    • Maturity of the reserve base
    • Reserves by field
    • Oil/liquids
      • Oil production outlook
      • Condensate and NGL production growth
      • Historical production
      • OPEC
    • Gas
      • Gas production outlook
      • Dedicated re-injection projects
      • Sales gas historical production
    • Introduction
      • Oil
      • Gas
    • Oil infrastructure
      • Gourreh-Jask oil pipeline
      • Pumping stations
      • Deliveries to domestic refineries
      • Oil (and condensate) refineries
      • Oil export terminals
    • Gas infrastructure
    • Existing pipelines
      • IGAT-1
      • IGAT-2
      • IGAT-3
      • IGAT-4
      • IGAT-5
      • IGAT-6
      • IGAT-7
      • IGAT-8
      • 3 more item(s)...
    • Future gas pipelines
      • IGAT-11
    • Gas processing facilities
      • Major gas processing facilities
      • Fajr-e Jam (formerly Valli Asr)
      • Bid Boland
      • Khangiran (Hasheminejad)
      • Dalan
      • Assaluyeh and Kangan
      • Parsian 1 and 2
    • Export pipelines
      • Turkey
      • Azerbaijan (swap for Nakhchivan region)
      • Armenia
      • UAE - Sharjah
      • Iran Pakistan India (IPI Pipeline)
      • Iraq
      • Iraq-Turkmenistan swap deal
      • Oman
    • LNG
      • Supply - South Pars
      • Supply - North Pars
      • Sales
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
    • Key legislation
      • Petroleum Act (1974)
      • Oil Act (1987)
      • Other developments
      • Iranian Constitution - Article 44
      • Iranian Constitution - Article 81
      • Iran Libya Sanctions Act (ILSA), 1996
    • Regulatory body
    • State oil company
    • National Iranian Oil Company (NIOC)
      • National Iranian South Oil Company (NISOC)
      • Iranian Central Oil Fields Company (ICOFC)
      • Khazar Exploration and Production Company (KEPCO)
      • Iranian Offshore Oil Company (IOOC)
      • Pars Oil and Gas Company (POGC)
      • Petroleum Engineering and Development Company (PEDEC)
      • Arvandan Oil and Gas Company (AOGC)
    • National Iranian Gas Company (NIGC)
    • National Iranian Gas Export Company (NIGEC)
    • State participation
    • Licensing
    • Overview
    • Upstream
      • Buy-back contracts
      • Iran Petroleum Contract (IPC)
    • Midstream and downstream
      • Pipelines
      • Gas utilisation
    • Current fiscal terms
    • Iran Petroleum Contract
      • Main innovations
    • NISOC contract
    • Buy-back contracts
      • State equity participation
      • Bonuses, rentals and fees
      • Royalty and other production taxes
      • Buy-back cost recovery
      • Buy-back profit sharing
      • Corporate (or Petroleum) Income Tax (CIT)
    • NIOC contract terms
      • Government priority production
      • Corporate Income Tax (CIT)
      • Capital and operating costs
      • Royalty
    • 4 more item(s)...

Tables and charts

This report includes the following images and tables:

  • Key facts: Table 1
  • Location maps: Image 1
  • Iran: Sedimentary basins map
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Reserves and resources: Table 3
  • Reserves and resources: Table 4
  • Reserves and resources: Table 5
  • Liquids and gas production and reserves
  • Reserves and resources: Table 6
  • Iran oil infrastructure map
  • Infrastructure: Table 1
  • 30 more item(s)...

What's included

This report contains:

  • Document

    Country Overview

    PDF 12.79 MB

  • Document

    Country Overview

    XLS 1.44 MB